Propel Nonprofits
Propel Nonprofits
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About this organization
Mission
Fueling the impact and effectiveness of nonprofits with guidance, expertise, and capital
About
Lending: As a Community Development Financial Institution (CDFI) certified by the US Treasury, Propel Nonprofits makes loans to nonprofit organizations to expand programs and services, bridge cash flow gaps, consolidate debt, and make capital improvements. We believe that access to capital is essential to the growth and stability of the nonprofit sector. Propel Nonprofits makes loans to nonprofits of all sizes and stages of development, many of which have been historically under-served by traditional credit markets. Loans are as large as $1 million and as small as $10,000. Overall, we made 113 new loans in FY2019 totaling $20,791,943. Our lending impacted organizations working in health care, human services, arts and humanities, charter schools, community development, and affordable housing. By partnering with other capital providers, we also leveraged additional funds of $19 million into the community. Within the lending program, Propel Nonprofits has continued the innovative Equity Builder Loan Program. This program includes intense technical assistance, a cohort learning process, loan forgiveness, and a structured savings program that brings equity to the balance sheets of Minnesota-based arts and culture nonprofits. Ultimately, the goal is to allow the leaders of these organizations to be more strategic and visionary in their work.
Interesting data from their 2020 990 filing
The filing reveals the mission of the non-profit as “The mission of propel nonprofits is to fuel the impact and effectiveness of nonprofits with guidance, expertise, and capital.”.
When detailing its functions, they were listed as: “Our mission is to fuel the impact and effectiveness of nonprofits with guidance, expertise and capital. propel nonprofits provides loans to nonprofits for facilities and working capital. see schedule o for more information.”.
- According to the law, the state where the non-profit operates has been reported as MN.
- The filing specifies that the non-profit's address in 2020 was 1 SE Main Street, Minneapolis, MN, 55414.
- As of 2020, the non-profit's form shows they have a total of 38 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $668,222.
- The organization has 17 independent voting members.
- The organization was formed in 1998.
- The organization pays $2,592,839 in salary, compensation, and benefits to its employees.
- The organization pays $126,576 in fundraising expenses.